Overall unemployment rate moved down to 5.8% with the biggest shift in Restaurants & Hotels, which lost 4,200 roles, based on the most recently available information published in March 2021.
Total employment in the San Jose-Sunnyvale-Santa Clara, CA market declined by 31,755 jobs in January and the unemployment rate decreased compared to the prior month by 20 bps to 5.8%. The national unemployment rate increased by 31 bps over the same time to 6.8%.
- San Jose-Sunnyvale-Santa Clara, CA unemployment rate is 101 bps below the national rate which is a positive sign.
- Unemployment in the market is 310 bps above the unemployment rate in the market last year at this time, which is a negative.
- Average wages (per hour) grew in January versus prior month by 4% and are up compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.8%. Key sectors include:
- Business Services: 235,600; -3,900
- Manufacturing: 168,200; -200
- Education & Healthcare: 167,400; -3,600
- Transportation & Utilities: 119,000; -3,800
- IT & Development: 107,800; +600
- Government: 91,800; -1,400
- Restaurants & Hotels: 54,400; -4,200
- Construction, Mining: 48,700; -2,700
- Financial Services: 37,700; no change
- Other Jobs: 21,000; +300
Data is based on the most recent 12 months available, through January 2021 (Data published March 2021 and reports created on March 25, 2021). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.